Sources told ESPN on Wednesday that Fisher has indeed been "exploring options and expressing interest in playing again."
It is unclear what those options are, specifically, but Fisher returning to the NBA after coaching in the league would be a rarity.
Fisher signed a multiyear contract in 2014 to coach the Knicks but was fired in February by team president Phil Jackson.
Since being let go by the Knicks, Fisher has appeared as a television analyst on NBA TV and TNT. Fisher will turn 42 next Tuesday and would be the oldest player in the NBA if he returns to the league. Other options for Fisher would conceivably include playing for a team overseas.
A 6-foot-1 guard, Fisher played 18 years in the NBA. He helped the Lakers win five NBA titles, played in an NBA record 259 playoff games and won an NBA record 161.
Fisher was fired as head coach of the Knicks on Feb. 8 after a stretch in which the team went 1-9. Some speculated at the time that Fisher's off-court incident with Matt Barnes also played into his firing. But Fisher later denied that in a published essay.